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Learn more about the Cebu property market through trends and average prices.
Cebu is a province in the Philippines that is located in the Central Visayas Region. It is composed of the main island (Cebu Island) and 167 surrounding islands. The capital of the province is Cebu City, which is called “The Queen City of the South” and was the first capital of the Philippines. Cebu Island is the most densely populated island in the country and its strategic and economic importance is second only to Luzon.
Thanks to its central location in the heart of the Visayas and its importance in the country, tourism in Cebu is flourishing. Every year, it welcomes almost two million international visitors who come to experience its spectacular diving spots, white-sand beaches, and lively nightlife. The tourism boom in Cebu has successfully attracted a large number of foreigners to invest in the property market.
A wide range of property types is available in Cebu, with houses as the most popular types. Houses in the province come in all styles and sizes, but small families and couples usually choose to live in bungalows (single-story houses). Bungalows in Cebu are usually built with modern design and offer abundant space in the living area, bedroom, and kitchen and dining area. Those who are looking for a bigger space can also opt for a two-story house or townhouse, which can be found all around the province.
In recent years, the demand for condo and apartments has also increased. Both condos and apartments in the province are situated in a high-rise, mid-rise, and low-rise buildings. They are usually designed with modern interior and provide “western” amenities, such as swimming pools and gyms. Some condos and apartments also offer a hotel-like lifestyle.
Cebu City is the largest city in the province. It is a 1st class highly urbanized city and, with over 920,000 people living in its area, it is the most populous city in the Visayas. The city is known for its modern shopping malls, buzzing nightlife, and historical buildings.
Another popular city is Moalboal, which is located on the South-West side of Cebu Island. Many people use this city as their entry point to Panagsama Beach, where visitors can find a number of bars, restaurants, resorts, and diving schools. This city offers more Filipino and amazing nature experience than Cebu City.
Besides Moalboal and Cebu City, the tourist areas in the province are the islands of Bantayan, Badian, Mactan, Malapascua, and Camotes.
Many foreigners relocate to Cebu due to its relatively affordable and reasonable cost of living. Like in many other areas in the Philippines, most foreigners can live in Cebu comfortably on very little, mainly due to the exchange rate from the US dollar to the Philippine Peso. US$1 is equivalent to around ₱49.1
Besides its low cost of living, many people fall in love with this province due to its friendly people and amazing weather. Cebu experiences two seasons: rainy (November to June) and dry (December to May).
To be able to live in Cebu, foreigners need a visa. Most expats living in the province obtain Long Stay Visitor Visa, which has a maximum length of 16 months and needs to be reapplied up to 6 months at a time.